\begin{table}[htbp]\centering
\caption{Full Models Underlying Table 2} \centering \scriptsize \label{reg5}
\begin{tabular}{l*{8}{c}}
\hline\hline
                &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}&\multicolumn{1}{c}{(5)}&\multicolumn{1}{c}{(6)}&\multicolumn{1}{c}{(7)}&\multicolumn{1}{c}{(8)}\\
                &\multicolumn{1}{c}{Permit}&\multicolumn{1}{c}{Permit}&\multicolumn{1}{c}{Permit}&\multicolumn{1}{c}{Permit}&\multicolumn{1}{c}{Complete}&\multicolumn{1}{c}{Complete}&\multicolumn{1}{c}{Complete}&\multicolumn{1}{c}{Complete}\\
\hline
Post-reform     &     0.06&     0.06&    -0.33&     0.06&     0.25&     0.25&    -0.05&     0.25\\
                &   (0.06)&   (0.06)&   (0.12)&   (0.06)&   (0.07)&   (0.07)&   (0.20)&   (0.07)\\
D               &         &         &     2.54&         &         &         &     2.62&         \\
                &         &         &   (0.79)&         &         &         &   (0.81)&         \\
Increase in Volatility=1&     1.14&         &         &         &     1.12&         &         &         \\
                &   (0.20)&         &         &         &   (0.20)&         &         &         \\
Increase in Volatility=2&     1.00&         &         &         &     0.98&         &         &         \\
                &   (0.22)&         &         &         &   (0.21)&         &         &         \\
Increase in Volatility=1 $\times$ Post-reform&    -0.21&         &         &         &    -0.17&         &         &         \\
                &   (0.07)&         &         &         &   (0.08)&         &         &         \\
Increase in Volatility=2 $\times$ Post-reform&    -0.41&         &         &         &    -0.34&         &         &         \\
                &   (0.07)&         &         &         &   (0.08)&         &         &         \\
Increase in Population Size=1&         &     1.04&         &         &         &     1.02&         &         \\
                &         &   (0.20)&         &         &         &   (0.20)&         &         \\
Increase in Population Size=2&         &     1.20&         &         &         &     1.17&         &         \\
                &         &   (0.19)&         &         &         &   (0.19)&         &         \\
Increase in Population Size=1 $\times$ Post-reform&         &    -0.20&         &         &         &    -0.18&         &         \\
                &         &   (0.07)&         &         &         &   (0.08)&         &         \\
Increase in Population Size=2 $\times$ Post-reform&         &    -0.42&         &         &         &    -0.33&         &         \\
                &         &   (0.07)&         &         &         &   (0.08)&         &         \\
Post-reform $\times$ D&         &         &     0.07&         &         &         &    -0.02&         \\
                &         &         &   (0.14)&         &         &         &   (0.21)&         \\
High Price      &         &         &     0.87&         &         &         &     0.90&         \\
                &         &         &   (0.41)&         &         &         &   (0.42)&         \\
Post-reform $\times$ High Price&         &         &     0.21&         &         &         &     0.16&         \\
                &         &         &   (0.08)&         &         &         &   (0.12)&         \\
D $\times$ High Price&         &         &    -0.72&         &         &         &    -0.78&         \\
                &         &         &   (0.44)&         &         &         &   (0.45)&         \\
Post-reform $\times$ D $\times$ High Price&         &         &    -0.20&         &         &         &    -0.12&         \\
                &         &         &   (0.11)&         &         &         &   (0.13)&         \\
Increase in Area=1&         &         &         &     0.89&         &         &         &     0.88\\
                &         &         &         &   (0.20)&         &         &         &   (0.20)\\
Increase in Area=2&         &         &         &     1.33&         &         &         &     1.31\\
                &         &         &         &   (0.19)&         &         &         &   (0.19)\\
Increase in Area=1 $\times$ Post-reform&         &         &         &    -0.28&         &         &         &    -0.24\\
                &         &         &         &   (0.07)&         &         &         &   (0.08)\\
Increase in Area=2 $\times$ Post-reform&         &         &         &    -0.35&         &         &         &    -0.28\\
                &         &         &         &   (0.07)&         &         &         &   (0.08)\\
Constant        &     5.31&     5.31&     3.65&     5.31&     5.17&     5.17&     3.45&     5.17\\
                &   (0.18)&   (0.18)&   (0.76)&   (0.18)&   (0.18)&   (0.18)&   (0.78)&   (0.18)\\
\hline
R2              &     0.19&     0.21&     0.20&     0.23&     0.20&     0.22&     0.22&     0.25\\
N               &     2522&     2496&     2496&     2496&     2522&     2496&     2496&     2496\\
\hline\hline
\multicolumn{9}{l}{\footnotesize \scriptsize Robust standard errors clustered at the municipal level in parentheses.}\\
\end{tabular}
\end{table}
